Utility function
Estimating the stochastic discount factor without a utility function
... When applied to quarterly data of U.S.$ real returns, from 1972:1 through 2002:4, using ultimately thousands of assets available to the average U.S. investor, our es- timator of the SDF is close to unity most of the time ...
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Model 1: Homogeneous consumers and two qualities 1.1.Consumers Utility Function: ()= +1 −
... Many of this results were already exposed in the core of the document, but the reader can know more easily understand how it fits the overall processes in searching for a [r] ...
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Utilitybased scheduling algorithms to enhance user satisfaction in OFDMA systems
... marginal utility curve considering several magnitudes of the θ ...marginal utility becomes zero, since it is a function of ...marginal utility and the point at which it is ...marginal ...
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Hedge Fund evaluation: mean variance vs performance ratios
... marginal utility for money, or in mathematical terms, the utility function must be increasing and ...of utility or, in other terms, the rate at which marginal utility is decreasing at a ...
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Rev. Bras. Econ. vol.69 número3
... contemplating utility func- tions with time separability and ...household utility function was modeled as constant relative risk aversion, external habits and Kreps–Porteus, estimates of the fraction ...
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J. Transp. Lit. vol.9 número2
... trip makers and drivers under the influence of VMS-based traffic information. The success of in-laboratory based evaluation of VMS lies to a great extent on accurate forecasting of traffic on alternative routes by route ...
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INSTITUTO SUPERIOR DE ECONOMIA E GEST ˜
... S-shape utility function, concave in the gain domain and convex in the loss ...weighting function shows indeed an inverse S-shape which was what it was expected and even more, the function for ...
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Money & banking regulation the welfare costs of inflation
... In order to define the welfare costs of inflation and banking regulation, we start from the indirect utility function for each banking system formulated above.. a[r] ...
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A general lagrangian approach for non-concave moral hazard problems
... Rogerson (1985) shows that, in the presence of MRLP and CDFP, the agent's utility function is a concave function of the action at the optimal contract and therefore the f[r] ...
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Discussing landscape compositional scenarios generated with maximization of non-expected utility decision models based on weighted entropies
... different utility valuations combined with weighted entropies respectively incorporating rarity factors associated to Gini-Simpson and Shannon ...root utility function, corresponding to a risk-averse ...
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Reality check for volatility models
... Asset allocation decisions and value at risk calculations rely strongly on volatility estimates. Volatility measures such as rolling window, EWMA, GARCH and stochastic volatility are used in practice. GARCH and EWMA type ...
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Workplace diversity and incentive contracts : theory and evidence
... With utility function (6 in the main paper), group loyalty does not affect workers IR constraints, therefore all benefits from work force homogeneity come from its effects on workers incentives to ...With ...
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Equity-premium puzzle: evidence from Brazilian data
... the utility function may not exist if the data (as it is the case with Brazilian time series) implies the existence of states in which high negative rates of consumption growth are attained with relatively ...
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The Research of Intelligent Negotiation Agent - Application for B2C E-commerce
... First, the buyer agent calculates the attribute utility. Second, apply a utility function and attribute weight to obtain the product utility. In this system, the seller agent has two columns ...
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On the impossibility of prisoner's dilemmas in adversarial preference games
... final utility. When unobservable final utility depends only on own-primitive-payoff the equilibrium of a primitive-payoff-game and the associated utility-games are ...unobservable utility ...
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Universidade Federal de Minas Gerais Escola de Engenharia Programa de P´ os-Gradua¸c˜ ao em Engenharia El´ etrica
... The regression technique chosen to approximate the underlying utility function is an Artificial Neural Network (ANN). An ANN is an information processing paradigm which is inspired by the way the information ...
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Subadditive probabilities and portfolio inertia
... Neumann-Morgenstern utility function is differentiable, the portfolio indifference curves may be kinked.. We now assume that the individual is uncertain about the pr[r] ...
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Portfolio choice with a correlated background risk : theory and evidence
... The effect of financial and total net wealth in the Probit model (and the effect of inheritance) is positive and is consistent with the presence of fixed transaction costs and a DARA utility function. An ...
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A Dynamic Resource Allocation Method for Parallel DataProcessing in Cloud Computing
... single function, it would imply that a single value in its domain was mapped to two values in its range, violating that it is a ...one utility function cannot accurately represent both the profit and ...
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On the Utility of the Humanities
... Nowadays (but also in other times) we would say that it should be knowledge of the world, critical thinking and the exercise of citizenship. Without this, it is understood, an engineer [r] ...
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